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Ahlstrom pulls out of Porous Power Technologies

Company failed to deveop qualified separator technology

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By: Karen McIntyre

Editor, Nonwovens Industry

Ahlstrom has decided not to make any further investments in Porous Power Technologies, a maker of lithium-ion separators based in Colorado. According to the company, Porous Power Technolgies has not been able to develop its nonwoven battery separator solution into a product that would be qualified by potential customers. Ahlstrom acquired a stake in the company in 2011 after working closely with it for several years.

As a result of Ahlstrom’s pull-out the board members of Porous Power Technologies have decided to wind down operations in an orderly manner. Ahlstrom will book net of tax an impairment loss of approximately €8 million in its third-quarter 2014 financial results. The impairment will not have any material cash effect.

Ahlstrom acquired a 49.5% stake in Porous Power Technologies in 2011 and now holds approximately 60% of the shares in the company. At the time of the initial investment, Ahlstrom executives said the company was inline with a corporate strategy of finding opportunities in unique products. The companies had hoped to together develop separator solutions for electric-drive vehicles, e-bikes, portable electronics and utility-grade storage products.

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